Castleark Management LLC Buys New Shares in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Castleark Management LLC acquired a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 69,720 shares of the biopharmaceutical company's stock, valued at approximately $3,991,000. Castleark Management LLC owned 0.05% of Halozyme Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Congress Asset Management Co. grew its position in Halozyme Therapeutics by 446.5% in the 3rd quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company's stock valued at $139,298,000 after buying an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Halozyme Therapeutics by 76.9% in the third quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company's stock valued at $112,715,000 after purchasing an additional 856,200 shares during the period. Boston Trust Walden Corp purchased a new stake in Halozyme Therapeutics in the 2nd quarter valued at approximately $23,211,000. Dimensional Fund Advisors LP increased its position in Halozyme Therapeutics by 12.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company's stock worth $99,363,000 after purchasing an additional 209,530 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Halozyme Therapeutics by 37.8% during the 2nd quarter. Federated Hermes Inc. now owns 696,131 shares of the biopharmaceutical company's stock worth $36,449,000 after buying an additional 191,030 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JMP Securities upped their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a "market outperform" rating in a report on Friday, November 1st. Piper Sandler upped their price target on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an "overweight" rating to a "neutral" rating and raised their price objective for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. Wells Fargo & Company lowered shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and upped their target price for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. Finally, Cowen reiterated a "buy" rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $61.11.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $59.09, for a total transaction of $590,900.00. Following the transaction, the chief executive officer now owns 676,744 shares of the company's stock, valued at $39,988,802.96. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 60,000 shares of company stock valued at $3,425,000 over the last quarter. Insiders own 2.40% of the company's stock.

Halozyme Therapeutics Price Performance

NASDAQ:HALO traded up $0.34 during trading hours on Friday, reaching $48.40. 905,788 shares of the company traded hands, compared to its average volume of 2,149,973. Halozyme Therapeutics, Inc. has a 1-year low of $33.15 and a 1-year high of $65.53. The stock has a market cap of $6.16 billion, a P/E ratio of 16.03, a P/E/G ratio of 0.44 and a beta of 1.23. The firm's 50-day moving average is $52.43 and its 200-day moving average is $53.85. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.